This Cryptocurrency Plunged 62% After SEC Files Emergency Lawsuit

The United States Securities and Exchange Commission has filed an emergency lawsuit in a Brooklyn federal court in an attempt to prevent a somewhat popular ICO from spending the money that was raised from the issuance of its cryptocurrency.

News of this emergency filing instantly led to a massive dump for Veritaseum, which raised a total of nearly $15 million from an Initial Coin Offering in mid-2017 and early-2018, and this emergency lawsuit may be emblematic of an imminent crackdown on unregistered securities that were offered through the course of the 2017 and 2018 ICO craze.